0

Reishi Mushroom Market Expected to Reach $5.05 billion by 2027-Allied Market Research

 

Report Code : A10352

quote Reishi mushrooms have an extremely high nutritional profile and have been thereby considered as mushroom of immortality. They have high applications as dietary supplements and are also gaining recognition as key plant-based ingredients in cosmetics & personal care products. These factors are among some crucial factors that drive the growth of the global reishi mushroom market quote

Shankar Bhandalkar
Team Lead, Food and Beverages at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Reishi Mushroom Market by Form, End Use, and Nature: Opportunity Analysis and Industry Forecast, 2021–2027,” the global reishi mushroom market was valued at $3,097.3 million in 2019, and is projected to reach $5,059.8 million by 2027, registering a CAGR of 8.1% from 2021 to 2027. The market is expected to exhibit an incremental revenue reishi mushroom market opportunity of $1.88 billion from 2021 to 2027. Rise in application of reishi mushroom in healthcare products, dietary supplements, cosmetics & personal care products, as a result of growing health consciousness, are the key factors for reishi mushroom market trends. 

There has been a trend and substantial growth in developing natural drugs to prevent and treat several immunological diseases over the last decades. The fruiting bodies of reishi mushroom species have gained popularity as dietary supplements in China, Japan, North America, and other regions of the world. Furthermore, it has been used as a functional food to prevent and treat immunological diseases, owing to its bioactive constituents that are regarded to provide anti-cancer, anti-inflammatory, anti-tumor, anti-oxidant, immunomodulatory, immunodeficiency, and anti-fungal properties. Moreover, the demand for reishi mushrooms as a key ingredient in several personal care products has also gained high traction. This is due to its excellent antioxidant, anti-aging, anti-wrinkle, skin whitening, and moisturizing properties. Consumers are increasingly inclined toward products manufactured using plant-based organic ingredients, instead of synthetically sourced. However, reishi mushrooms products are high priced, and this factor is expected to hinder the reishi mushroom market growth.  

Owing to the outspread of COVID-19, the reishi mushroom market has been largely impacted due to lack of availability of workers, which in turn affected the production capacity. Furthermore, due to closures of wholesale markets, producers had to solely rely on supermarkets and e-commerce traders to market the mushroom products. Hence, the market for reishi mushrooms was largely impacted during the pandemic. However, since it is regarded as a therapeutic product, the demand for reishi mushroom is anticipated to gain higher traction in the near future. This is due to increase in consumption of dietary supplements and nutraceutical products by consumers as a means to stay healthier and gain immunity.

On the basis of form, the powder reishi mushroom category accounted for the maximum reishi mushroom market share in 2019. Powdered reishi mushroom has an array of applications owing to its versatile nature. The nutrient composition of powdered mushroom is similar to that of its fresh version; however, with lowered calorie content. Furthermore, it can blend easily in any food & beverage product. Therefore, the powdered reishi mushroom segment accounted for the largest share in 2019. However, the liquid reishi mushroom segment is expected to grow at a higher CAGR during the forecast period. The liquid version of reishi mushroom extract consists of less impurities, which is crucial if a consumer chooses to take reishi mushroom supplements for a particular effect. Furthermore, liquid forms of the extract provide concentrated nutrition version of the mushrooms as compared to powder. It can be easily added to on-the-beverages, which is another significant consumer element.

On the basis of end use, the pharmaceutical, nutraceutical & dietary supplements segment accounted for the maximum share in the global reishi mushroom market in 2019. Reishi mushrooms are regarded to have high medicinal properties and have been formerly consumed for their therapeutic properties. The application of reishi mushrooms in dietary supplements has gained high momentum due to product improvement thorough research & development,. Furthermore, the market for reishi mushroom in this segment experiences growth owing to rise in interest of consumers toward plant-based supplements. However, the cosmetics & personal care reishi mushroom segment is expected to grow at a higher CAGR during the forecast period. The numerous skin-benefitting properties offered by Reishi mushrooms include antioxidant, anti-aging, anti-wrinkle, skin whitening, and moisturizing effects, which make them ideal ingredients for cosmetics products. Therefore, the cosmetics & personal care segment is anticipated to garner the highest traction during the forecast period. 

On the basis of nature, the conventional reishi mushroom segment accounted for the maximum share in the global reishi mushroom market in 2019. Mushrooms sourced conventionally are comparatively economical and are widely used in industrial production. Conventional reishi mushrooms provide benefits over its organic counterpart in terms of price and availability. 

However, the organic segment is anticipated to grow at the highest CAGR during the reishi mushroom market forecast period. Organic reishi mushrooms products are manufactured using all natural and non-GMO raw materials. Consumers have gradually become well-informed regarding the food they consume and also have knowledge and awareness about the ill effects of synthetic chemicals on their health owing to rise in health consciousness,. Hence, the organic segment is expected to garner a considerable growth rate during the forecast period. 

On the basis of region, Asia-Pacific was the prominent market for reishi mushroom in 2019. Reishi mushroom and its products have experienced tremendous popularity and substantial consumption in the region for centuries. Furthermore, China has been the largest producer and consumer of reishi mushroom products. However, the North America region is expected to witness a significant CAGR.  Consumers in this region have been more inclined toward health-conscious products which includes functional food & beverages due to of lifestyle changes. As Thus, the demand for plant-based food supplements is anticipated to gain high traction.  

Key findings of the study

  • By form, the powder segment was the highest contributor to the reishi mushroom market, with $1886.8 million in 2019, and is estimated to reach $3012.8 million by 2027, at a CAGR of 7.80% during the forecast period.
  • By end use, the pharmaceutical, nutraceutical and dietary supplements segment was the highest contributor to the reishi mushroom market size with $1312.8 million in 2019, and is estimated to reach $2051.5 million by 2027, at a CAGR of 7.50% during the forecast period.
  • By nature, the conventional segment was the highest contributor to the market, with $1894.2 million in 2019. However, the organic segment is anticipated to grow at the highest CAGR. 
  • By region, Asia-Pacific was the most prominent market, in 2019; however, North America is expected to grow at a significant CAGR throughout the forecast period.

The key players operating in the reishi mushroom industry include Alphay International, Inc. (China), Bio Botanica, Inc. (U.S.), Bristol Botanicals Limited (UK), Ron Teeguarden Enterprises, Inc. (U.S.), DXN Holdings Bhd. (Malaysia), Shanghai Gubao Edible Mushroom Co., Ltd. (China), Xi'an Greena Biotech Co., Ltd (China), Fujian Xianzhilou Biological Technology Co., Ltd. (China), Hokkaido Reishi Co., Ltd. (Japan), and Nammex (North American Medicinal Mushroom Extracts). 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Tushar Nagose
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Reishi Mushroom Market by Form (Liquid and Powder), End Use (Pharmaceutical, Nutraceutical & Dietary Supplements, and Cosmetics & Personal Care), and Nature (Organic and Conventional): Global Opportunity Analysis and Industry Forecast, 2021–2027 quote

View Report
 
 
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 4,346 niche industries and company profiles on more than 12,953 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Jan 2021

Surgical Equipment Market

Download Sample
rep-img

Published Date Nov 2020

Medical Implant Market

Download Sample
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Reishi Mushroom Market"
Purchase Enquiry